Corpay (NYSE:CPAY) Issues Q4 Earnings Guidance

Corpay (NYSE:CPAY) updated its fourth quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $5.25-5.45 for the period, compared to the consensus earnings per share estimate of $5.38.

Analyst Upgrades and Downgrades

Several brokerages have commented on CPAY. Wolfe Research upgraded Corpay from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, September 3rd. Wells Fargo & Company increased their target price on Corpay from $285.00 to $320.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Morgan Stanley increased their target price on Corpay from $325.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Raymond James lowered their target price on Corpay from $330.00 to $311.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, Citigroup increased their price target on Corpay from $405.00 to $430.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Corpay presently has an average rating of “Moderate Buy” and a consensus price target of $363.93.

Corpay Trading Up 0.5 %

Shares of NYSE CPAY opened at $382.94 on Tuesday. The company has a market cap of $26.69 billion, a price-to-earnings ratio of 27.31, a price-to-earnings-growth ratio of 1.49 and a beta of 1.23. Corpay has a 12-month low of $247.10 and a 12-month high of $385.30. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.69. The stock’s 50 day simple moving average is $345.66 and its 200 day simple moving average is $304.65.

Insider Buying and Selling

In related news, CAO Alissa B. Vickery sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $370.04, for a total value of $2,960,320.00. Following the sale, the chief accounting officer now directly owns 1,797 shares in the company, valued at $664,961.88. This trade represents a 81.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph W. Farrelly sold 2,975 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $375.18, for a total value of $1,116,160.50. Following the completion of the sale, the director now owns 10,530 shares in the company, valued at approximately $3,950,645.40. This represents a 22.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 6.10% of the company’s stock.

About Corpay

Corpay, Inc operates as a payments company that helps businesses and consumers manage vehicle-related expenses, lodging expenses, and corporate payments in the United States, Brazil, the United Kingdom, and internationally. The company offers vehicle payment solutions, which include fuel, tolls, parking, fleet maintenance, and long-haul transportation services, as well as prepaid food and transportation vouchers and cards.